Question

find the compound interest on ₹8000 at 10% per Annum for 2 years if the interest is calculated half yearly​

Answer 1

Rs 8000 draws an interest of Rs 800 on the first year at 10% per annum rate of interest.

Second year the principal will be Rs8000(principal)+Rs800(interest)=Rs8800.

Interest on Rs 8800 for second year at 10% per annum rate of interest would be Rs 880.

Amount accumulated at the end of 2nd year Rs8800+Rs880=Rs9680.00

Compound Interest of two years is Rs9680–Rs8000=Rs1680.